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South African mining firm Merafe Resources' ferro-chrome decreased production in October-December 2022 compared with the same period a year earlier in its joint venture with Swiss conglomerate Glencore.
The company produced 97,000t of ferro-chrome in the fourth quarter, 5pc lower than in October-December 2021, when it produced 102,000t.
Production rose by 1.3pc year on year, with an output of 384,000t in 2022 compared with 379,000t in 2021.
"The production levels were achieved in spite of the Eskom load curtailments that affected operations," the company said, referring to South Africa's electricity provider, which imposed record power cuts in December as it increased load-shedding to stage six, whereby 6GW of demand is cut from the grid.
Merafe did not respond to a request for comment on the effect of load shedding on quarterly production by the time Argus went to press. But in its third-quarter production report, it said load curtailments did not significantly affect its productivity.
Merafe rolled over its quarterly European ferro-chrome benchmark for January-March last month, which stands at $1.49/lb. The benchmark came down from $1.80/lb in the third quarter and $2.16/lb in the second quarter, a reflection of lacklustre demand for steel feedstocks from European mills. Argus Metals
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